We find vans tend to get more bookings, so if you're looking to maximise your income, renting out a van is a great way to do that. To maximise your profit, rent out an older automatic van that's in good mechanical condition.
On average, vans earn around $600 a month and are the most consistently high-earning cars for owners. This figure is the average monthly income for a van that's available at least 50% of the time. It's the owner's income after we take our commission. You'll still have costs for running your van, including fuel, but these may be tax deductible.
If you’re thinking of renting out a van, you can maximise your income by choosing one that's:
- Automatic – automatic vans earn about 50% more than manual vans
- Worth under $20,000 – a workhorse is fine, as long as it’s solid and reliable
- Not too new – age has very little impact on earnings for a van as they earn just as much if they’re 10-12 years old as a new van
- Mechanically sound and in good working order
- Available for bookings at least 30% of the time (but the more the better)
As vans are mostly used for practical purposes like moving house or picking up furniture, they don’t need to be new or fancy. Most borrowers need a van to get the job done, so as long as your van is reliable and easy to drive it should be very popular.
You can rent out more than one car at a time, so you could try renting out a few vans as a way of making extra income. Learn more about starting a fleet.